Why 寺 妨げる／法廷，弁護士業 支援するs cheap 株 like M&S, BP and 王室の Mail: INVESTING SHOW
When the value-minded 経営者／支配人s of 寺 妨げる／法廷，弁護士業 bought into 示すs & Spencer 株, some questioned their sanity.
With M&S 株 having almost trebled from 90p to 250p over the past 16 months, that’s not the 事例／患者 anymore.
‘The market has gone from hating 示すs & Spencer two years ago ? people used to say you’re 絶対 crazy to own that ? to 現実に やめる liking it,’ 寺 妨げる／法廷，弁護士業’s co-経営者／支配人 Ian Lance told This is Money's 投資するing Show.
But Lance 追加するs that those big 伸び（る）s come from a low baseline level and the 寺 妨げる／法廷，弁護士業 team believe 示すs & Spencer is still closer to the start of its 回復 旅行 than the end - with more 株主 returns to come.
On the first episode of a new 一連の the 投資するing Show, Ian Lance joins Simon Lambert to explain the 投資 philosophy that has seen 寺 妨げる／法廷，弁護士業 return 80 per cent since he and Nick Purves took over as 経営者／支配人s at the end of October 2020.
Lance believes this 投資 戦略 has plenty more to come, 明言する／公表するing that the UK market is as undervalued as it was in 2008.
He 収容する／認めるs that the 二人組 benefitted from lucky タイミング in taking over the 信用 just before the Covid ワクチン 決起大会／結集させる kicked in. Yet, he 強調する／ストレスs that their value 投資するing style doesn’t 伴う／関わる just buying the market but cherry-選ぶing individual undervalued companies
寺 妨げる／法廷，弁護士業 looks for the ‘cheapest 在庫／株s, with the best prospects’ and Lance 輪郭（を描く）s why the tight 大臣の地位 of about 25 companies 含むs M&S, BP and 王室の Mail-owner IDS.
He also explains 寺 妨げる／法廷，弁護士業’s contrarian 支援 of car 製造者 Stellantis ? and why he would rather 持つ／拘留する the 複合的な／複合企業体 that owns Peugeot, Vauxhall, Fiat and Alfa than Tesla 在庫／株.
But that’s not to say that value 投資家s can’t 逸脱する into the tech world, によれば Lance.
He 詳細（に述べる）s how he once held Microsoft 在庫／株 because it fitted into the value 投資するing philosophy and discusses whether Facebook parent Meta managed to make that bracket when its 株 price nosedived in 2022.
寺 妨げる／法廷，弁護士業 投資 信用
AIC 部門: UK 公正，普通株主権 Income
経営者／支配人s: Ian Lance and Nick Purves (since end October 2020)
現在進行中の 告発（する），告訴（する）／料金s: 0.54%
One-year total return: 0.8% vs -0.6% AIC 部門 普通の／平均（する）
Three-year total return: 43.3% vs 23.2% AIC 部門 普通の／平均（する）
（株主への）配当 産する／生じる: 4.02%
株 price 割引 to NAV: -5.55%
人物／姿／数字s from AIC / Morningstar to 29 January 2024?
